You'll have quality tenants, minimal hands-on management, and lower potential maintenance issues.

@Jeremy Kossler  look at what is backing the fund. .thats critical.. what you can do is get really good performing 1st TD's on high quality assets that will pay this rate ... as opposed to what is backing this particular fund..

A bad PM can kill a good decision.If you can't find a quality PM in a particular market, don't invest in that market.

I think the problem here is your lumping ALL syndicators, regardless of operational time and quality, into 1 big generalization. 

I did a survey last year and spoke to 8-10 lenders and they all said they wouldn't add extra value to the property based on it being a working STR.You need to check comps of other mobiles in the area of similar quality and price it accordingly.

Connect with a quality broker in your area that can shop the various companies for you and find you the best deal without compromising coverage.

If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

@Rud SevCap rates in NNN deals are influenced by factors like tenant quality, lease terms, location, and lease structure.

All said, drop the rate to market or slightly below (if you're in a tougher market) to attract a quality tenant, then pursue the refinance or sale as some have suggested already.

(Ask me how I know this.)You'll be priced out of virtually any quality market as you'll need to put anywhere from 25-40% down if you'd like to cash flow in a deal you don't have to significantly rehab (or found off-market) with interest rates where they're at (and don't expect them to go down to 4% anytime this decade either--a 3-4% interest rate is historically low and investors in the 2010s were lucky and spoiled).